Although the majority of the cryptocurrency market has been recording losses in recent days, weighing down on the gains from the year’s turn, the artificial intelligence (AI) hype, reinvigorated by the popularity of the text-based AI platform ChatGPT, has helped a large portion of Fetch.ai (FET) holders to remain in profit.
Specifically, as much as 96% of FET holders are making a profit at the current price (in the money), while only 4% are in a loss and 1% are at the money, according to the most recent information retrieved by Finbold from the cryptocurrency tracking platform IntoTheBlock on March 2.
Among all of these observed holders of the Fetch.ai token, 99% of them are considered long-term holders, having held the AI token for more than one year, as opposed to only 1% holding it between one and 12 months, and 0% of addresses holding it for less than one month.
Fetch.ai price analysis
The success of AI tokens amid a bearish market can be considered significant, taking into account that Fetch.ai is recording an increase of 4.94% over the last seven days, at the same time when the crypto market’s representative, Bitcoin (BTC), is recording a decline of 1.25% over the same time frame.
It is also important to mention that FET has gained as much as 73.29% over the previous 30 days, while the AI hype helped it grow a whopping 402.39% since the year’s start, at press time changing hands at the price of $0.46, as charts demonstrate.
As it happens, the price of FET soared last week in response to the announcement that the Fetch.ai protocol had partnered with electronics giant Bosch to create a foundation dedicated to research and development of Web3 technology for real-world industrial applications.
In addition to the other positive developments surrounding the AI platform, such as the surging interest from crypto whales, the announcement and ensuing price increases have helped Fetch.ai advance and become one of the top five artificial intelligence cryptocurrencies to watch in March.
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